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I am 44 years old. Should I invest in a home or should I rent instead?

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I am 44 years old. Should I invest in a home or should I rent instead?

Postby sherman » Thu Dec 15, 2011 10:52 pm

I want to buy a home some day but don't have the money needed to do so. I have a steady job...$27,000 yr....low monthly bill expenses. I am now 44 years old. Is it too late for me to buy??? I wanted to be able to enjoy home ownership but realize that as I fast approach 45 years old my dream seems to be just that...a dream.Also, I worked only part time for the last 5 yrs as I attended school, so I am just now beginning to work a full time job as I pay of school loans.
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby aghamore » Thu Dec 15, 2011 10:58 pm

Unless you're planning on dying earlier than usual, it makes sense to buy a home if you can afford to set up a deal. Home prices have plunged, and there are some major investment opportunities in many areas.
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby farnleigh40 » Thu Dec 15, 2011 11:04 pm

Nah its not too late just make sure you save up money for a deposit and then see the bank to figure out how much in repayments you can afford each week. a steady job is a good basis for this.
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby calder » Thu Dec 15, 2011 11:06 pm

pay off the school loans first, kick salley mae or whoever to the curb first. you could get a condo like I did. All the advantages of being a home owner but no yard to mow,roof to fix, or house to paint. I have a monthly neighborhood fee to cover outside stuff. You can do whatever you want to the inside of it.
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby horton » Thu Dec 15, 2011 11:16 pm

owning a home is not what its all what it ment to be. lets say you can afford the closing cost the down payment and the utilitiess their are other things that pop up all the time like a broken pipes bad flooring or trees falling on your shed. If you do not have the money or the energy to take care of these problems then a house is not for you.

your age is not the problem since mtg companys know that you are most likly not going to liv aslong as your mtg term. Most people die while their 2nd mtg is still active. So the house is never really yours. What you really are doing is buying a house for your childern.
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby daith » Thu Dec 15, 2011 11:18 pm

It is never too later to buy until you are on your death bed. Only you can decide if the time is right for you or not.

Personally I resisted buying for a long time because I just did not want the responsibility. I finally decided to at 35 now that I have 2 dogs that needed a bigger yard that you just don't usually get in an apartment. This is also the 1st time I have been at the same job for more than 1 yr.

So if you are financially stable & ready for the responsibility I say go for it! ;-)
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby calldwr » Thu Dec 15, 2011 11:23 pm

I dont think its too late =D do you have a amily going with you? spouse kids, or is it just you or just you and spouse? if so I would say get a condo or townhome even a manufactured home, something not too pricey but nice, that way you can afford the payments, and still have left over money for other expenses because yu never know what can happen. School loans can be a pain in the butt, and sometimes your school loan can get bought out by something else and the payments will get adjusted ( maybe even get higher) so dont bite off more than yu can chew just because yu have the money. Start first by seeking out a bank before looking at house or looking into a realtor to make sure you qualify, be sure to save up money fr all the cost as well =) goodluck its exciting lking for houses
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I am 44 years old. Should I invest in a home or should I rent instead?

Postby haji » Thu Dec 15, 2011 11:39 pm

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